Can Cryptocurrency Survive Regulations

As we all know, cryptocurrencies have had a rough ride with state and federal regulations. In fact, in some countries, cryptocurrency there has been threats as far as the extensive use of cryptocrrency is concerned. The United States is the only country where cryptocurrencies have over the years been extensively used but still, there are instances where the whole idea of crypto transactions have been given limits which they were expected to not pass or evade. The regulations have risen from the perception that the use of latest cryptocurrency news is one way for loosing government revenue since most of the transactions are done online without the involvement of the financial institutions on ground such as banks.

There are a number of reasons why cryptocurrency may not survive regulations is the fact that it has been linked to terrorism and other financial related illegal activities. You should be aware of the fact that most of the crypto transactions are anonymous and with that idea at hand, terrorists can plan and implement their plans by using crypto transactions to finance their operations. With that idea, most of the states have been against the use of cryptocurrency hence the creation of stiff regulations through house legislations.

Secondly tax evasion has been linked to the extensive use of cryptocurrencies. In other words, the government of the day may not like the idea that most of the blockchain transaction cannot be monitored directly by government machinery put in place. In that case, there has been legislations aimed at crippling the use of cryptocurency and this is another contributing factor that threatens the stability of how to buy cryptocurrency as we speak. In fact, there are a number of countries which have banned the use or anything related crypto transactions. These countries include Zimbabwe, Bolivia, Morocco and Kyrgyzstan.

On the other hand, considering that the use of cryptocurrencies is very extensive and worth millions of money, there are high possibilities for it to continue surviving. It should be considered that some countries will continue allowing the use of cryptocurrency. Some of the supporters of cryptocurrency include: South Korea and China. The availability of support from these huge economies can be a sign that even though they will be banned elsewhere, the use of crypto will still be here and will be here some decades in the future. However, for cryptocurrency to survive, they will need to adopt all the regulations to avoid total ban.

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